Dream Industrial REIT owns and operates a portfolio of 221 industrial assets (326 properties) comprising approximately 39.8 million square feet of gross leasable area in key markets across North America and a growing presence in strong European industrial markets.
High-quality industrial properties across Canada, the U.S. and Europe
$5BGross Asset Value
39.8Msq. ft. of GLA
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Dream Industrial REIT
Dream Industrial REIT is a pure-play industrial REIT that owns high-quality industrial properties across Canada, the U.S. and Europe
Dream Industrial REIT’s core strategy is to grow our portfolio of industrial properties across Canada, the U.S. and now Europe, providing a solid platform for stable and growing cash flows by:
• owning and operating a high-quality portfolio of industrial assets in markets with strong operating fundamentals;
• investing in our key markets in industrial assets offering long-term cash flow and net asset value growth prospects;
• maximizing the value of our industrial assets through innovative asset management strategies;
• providing compelling total returns to our unitholders, anchored by sustainable cash distributions; and
• integrating sustainability at the corporate and property levels.
Global Acquisition Platform
With a global acquisition platform, we have local, on-the-ground teams with a strong track record of sourcing attractive industrial
assets across Canada, the U.S. and Europe. We have strong established relationships in all our local markets which allows us to
source high-quality and accretive acquisitions with long-term cash flow and net asset value growth potential.
Continuous Portfolio Optimization
We regularly evaluate and benchmark each individual asset in our portfolio, assessing historical and future performance as well
as value growth potential. We identify opportunities to recycle assets within our portfolio and reinvest the proceeds into higher
quality assets that are less management and capital intensive. When evaluating potential acquisitions, we consider a variety of
criteria, including expected cash flow returns; replacement cost of the asset; its location, functionality and appeal to future
tenants; sustainability attributes of the asset and how the asset complements our existing portfolio; and per Unit accretion.
Active Asset Management
Through creative asset management strategies, initiating and executing on development projects enables us to unlock organic net
operating income and net asset value growth. We actively manage our assets to optimize performance, maintain value and attract
and retain tenants. We have local teams across our portfolio with over 80 real estate professionals highly experienced in leasing,
operations and portfolio management operating out of nine regional offices in our key markets. We strive to ensure that our assets
are the most attractive, efficient and cost-effective premises for our tenants.
Conservative Financial Policy
We operate our business in a disciplined manner with a focus on maintaining a strong balance sheet and liquidity position. We
seek to maintain a conservative leverage, naturally hedge foreign currency investments, and build up a high-quality unencumbered
asset pool, while reducing borrowing costs and preserving liquidity
Focused Portfolio Strategy
In Canada, our strategy is to acquire mid-to-large-bay properties primarily in the Greater Toronto Area and the Greater Montréal
Area where we expect to benefit from increased user demand relative to supply of quality industrial product, and where in-place
rental rates are generally below market rental rates and the outlook for rental rate growth is robust. The Trust is also targeting to
increase scale in our existing sub-markets and add to our large urban logistics clusters.
In the U.S., our strategy is to acquire larger bay distribution properties in major markets within the Midwestern U.S., capitalizing
on strong e-commerce demand for distribution assets, steady contractual rent growth and attractive going-in capitalization rates.
In Europe, our goal is to acquire mid-to-large-bay properties in major markets in the Netherlands and Germany. Across these
markets there is growing demand for urban logistics space, increased user demand relative to supply of quality industrial product,
attractive going-in capitalization rates and upside potential from growth in market rents.
Dream Industrial Management Corp. provides real estate services – including property management and leasing – to properties owned by Dream Industrial REIT.
Our management team and staff are committed to:
Continually improving the quality of our office communities through efficient property management, value added services for our tenants and capital improvements to our assets; and providing customer service excellence. Our top priority is providing a physical environment essential to the well-being of our tenants and the success of their business.
An important key to our success is our vertically integrated property management operations, which includes tenant services and property operations, lease administration accounting and reporting, and in-house construction management and leasing capabilities.
Our web-enabled response system provides tenants with the ability to submit and monitor their service requests online.
Whether it’s a light bulb that needs replacing or if the temperature is just not right, simply login and enter your request. Should you have any questions or trouble logging in, please contact us at [email protected]
How To: Dream Plus Guide
Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at September 30, 2021, Dream Industrial REIT owns, manages and operates a portfolio of 221 industrial assets (326 buildings) comprising approximately 39.8 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial REIT’s objective is to continue to grow and upgrade the quality of its portfolio which primarily consists of distribution and urban logistics properties and to provide attractive overall returns to its unitholders
Modern, Functional and Well Located Assets
Our assets by building type
Across our regions, our portfolio consists of distribution, urban logistics and light industrial buildings.
As at September 30, 2021, our investment property value by building type allocated by region is as follows (all dollar amounts in these charts are presented in millions)*
Highly functional big-bay buildings located in close proximity to airports and major transportation corridors, catering to e-commerce and logistics tenants.
Small to mid bay properties located close to major population centres and ideally suited to meet last mile distribution needs.
Mid to large bay assets where tenants have typically invested significant amounts capital and are committed to the space.
Geographically Diverse Portfolio
$5.0B Total Investment Properties Value
$3.0B 60% of investment properties value
Exceptionally well-located urban portfolio located mostly in the Greater Toronto Area, Greater Montreal Area, and Calgary
$2.0B 40% of investment properties value
Urban portfolio located close to dense population centres, primarily in the Randstad region within the Netherlands, Germany, and France.
25% interest in a US$0.5B private industrial fund
Mid-to-large bay distribution facilities located within a day’s truck drive to over 50% of the North American population
Focused portfolio strategy
In Canada, our strategy is to acquire mid-to-large-bay properties primarily in the Greater Toronto Area and the Greater Montréal Area where we expect to benefit from increased user demand relative to supply of quality industrial product, and where in-place rental rates are generally below market rental rates and the outlook for rental rate growth is robust. The Trust is also targeting to increase scale in our existing sub-markets and add to our large urban logistics clusters.
In Europe, our goal is to acquire mid-to-large-bay properties in major Western European markets. Across these markets, there is growing demand for urban logistics space, increased user demand relative to supply of quality industrial product, attractive going-in capitalization rates and upside potential from growth in market rents.
In the U.S., our strategy is to continue pursuing long-term growth alongside strong institutional partners through our retained 25% interest in the U.S. Fund. A subsidiary of the Trust will provide property management, construction management and leasing services to the Fund at market rates. This is expected to provide a growing income stream to the Trust as the U.S. Fund scales in attractive U.S. industrial markets. This transaction allows the Trust to continue to grow in attractive U.S. industrial markets, improving overall portfolio quality and diversification, while maintaining an enhanced geographic mix.
Financial Reports and Filings
- Financial Reports
- Regulatory Filings
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Our sustainability strategy enables us to establish meaningful and realistic benchmarks, measure our progress and integrate our environmental and social obligations into the ways we manage our business and create value.
Chief Executive Officer
We strive to continuously improve the resource efficiency of our operations, lower any undesired impacts associated with our activities and contribute positively to the transition to a low carbon economy.
We care for our people, tenants, partners and communities by embracing a diverse and inclusive workplace, promoting leading health and safety practices and building inclusive, attainable and sustainable communities.
We maintain the highest ethical business standards, which includes how we manage and mandate sustainability.
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Our team is made up of the industry’s smartest, most dedicated, knowledgeable and experienced real estate investment, portfolio management and financial professionals that have a proven track record of creating value.
Dream Industrial REIT is committed to sound and effective corporate governance. Our goal is to not only meet the requirements established by securities laws and regulators but also to uphold the spirit of “good corporate governance” and we always strive to communicate in an open, honest and transparent manner.
Board of Trustees
Dream Industrial REIT’s Committees assist in the effective functioning of the Board and help ensure that the views of Independent Trustees* are effectively represented.
A Trustee that is independent within the meaning of NI 58–101. An Independent Trustee is one who is not an employee or executive officer of Dream Industrial REIT and who is free from any direct or indirect relationship which could, in the view of the Board, be reasonably expected to interfere with independent judgment.
The Audit Committee is responsible for monitoring Dream Industrial REIT’s systems and procedures for financial reporting and internal controls and the performance of Dream Industrial REIT’s external auditors. It is responsible for reviewing certain public disclosure documents prior to their approval by the full Board and release to the public including, among others, Dream Industrial REIT’s quarterly and annual financial statements and management’s discussion and analysis. The Audit Committee is also responsible for recommending to the Board the firm of chartered professional accountants to be nominated for appointment as the external auditor, and for approving the assignment of any non-audit work to be performed by the external auditor. The Audit Committee meets regularly in private session with Dream Industrial REIT’s external auditors and internal audit function, without management present, to discuss and review specific issues as appropriate.
Applicable law and the Declaration of Trust requires the Board to have an Audit Committee consisting of at least three Trustees, each of whom must be independent and “financially literate” within the meaning of NI 52-110.
The full responsibilities of the Audit Committee are set out in a written charter, which is reviewed annually by the Board. The charter is available for review under the Charters and Policies section.
Governance, Compensation and Environmental Committee
The Governance, Compensation and Environmental Committee, in consultation with the Chair of the Board, is responsible to:
- assess from time to time the size and composition of the Board and its committees;
- review the effectiveness of the Board’s operations and its relations with management;
- assess the performance of the Board, its committees and individual Trustees;
- review Dream Industrial REIT’s statement of corporate governance practices; and
- review and make recommendations to the Board with respect to the compensation of Trustees and any officers of Dream Industrial REIT who are not employed by Dream Industrial REIT’s external asset manager.
The full responsibilities of the Governance, Compensation and Environmental Committee are set out in a written charter, which is reviewed annually by the Board. The charter is available for review under the Charters and Policies section.
The Executive Committee meets on an “as needed” basis and has the authority to exercise all of the powers and discretions in the management and direction of our activities delegated to it by the Board of Trustees in accordance with the Declaration of Trust, Board and committee mandates and applicable law, including to:
- approve or reject proposed investments made by Dream Industrial REIT in accordance with the investment guidelines, in each case, of up to $50 million (by way of debt or equity);
- approve the assumption or granting of any mortgage made by Dream Industrial REIT of up to $50 million (or such other amount provided the terms thereof have been reflected in the operating budget approved by the Board for the applicable year);
- develop the strategy, risk management and staffing requirements for review and approval by the Board; and
- approve the assumption or incurrence of any debt obligations by Dream Industrial REIT of up to $50 million (or such other amount provided the terms thereof have been reflected in the operating budget approved by the Board for the applicable year).
The full responsibilities of the Executive Committee are set out in a written charter, which is reviewed annually by the Board. The charter is available for review under the Charters and Policies section.
Charters, Policies and Declaration of Trust
Dream Industrial REIT is committed to sound and effective corporate governance. Our goal is to not only meet the requirements established by securities laws and regulators but to also uphold the spirit of ‘good corporate governance.’
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